Crescent Energy (NYSE:CRGY) Given Consensus Recommendation of “Buy” by Brokerages

Crescent Energy (NYSE:CRGY) has been given an average recommendation of “Buy” by the twelve brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $17.50.

A number of equities analysts recently weighed in on CRGY shares. Raymond James increased their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Stephens lifted their price objective on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Siebert Williams Shank assumed coverage on Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating on the stock. Wells Fargo & Company lowered their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock valued at $74,285,000 after purchasing an additional 2,986,468 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Crescent Energy by 11.4% during the 3rd quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock valued at $10,132,000 after acquiring an additional 94,948 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Crescent Energy by 53.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after acquiring an additional 1,164,306 shares during the last quarter. Royce & Associates LP acquired a new stake in shares of Crescent Energy during the 3rd quarter valued at $11,146,000. Finally, Phocas Financial Corp. acquired a new stake in shares of Crescent Energy during the 3rd quarter valued at $3,400,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 0.2 %

CRGY opened at $15.05 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $13.23. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 24.27 and a beta of 2.16.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.